(Beijing News) International Consulting Company McKinsey's survey shows that macroeconomic pressure has affected the confidence of Chinese consumers. In the past year, the Chinese people are more keen to save money and do not want to spend.From time to time, it set a new high since 2014, nine percentage points higher than the results of the 2019 survey.

The Chinese Consumer Report released by McKinsey pointed out that the downturn in the stock market and the property market, as well as measures taken to curb the spread of the epidemic, add uncertainty to consumption prospects.

McKinsey conducted this survey on consumer attitudes and consumption behaviors in 44 cities in China and more than 6,700 cities in China and nearby townships in July this year. The report was released this month.

The

Report also pointed out that in the first nine months of 2022, the amount of Chinese residents' deposits increased by 14 trillion yuan (S $ 2.7 trillion).

The survey also found that 54 % of respondents believe that their family income will increase significantly in the next five years, and the ratio will be reduced by five percentage points from 59 % in 2019.

Five trends to reshape the Chinese consumer market

The

Report also summarizes the five major trends in reshaping the Chinese consumer market, including the continued growth of the middle class, the continuation of the high -end momentum, the more wise choice, the consumption of unlimited, the product is king, and the Chinese local enterprises are winning the market.

However, the report believes that despite the slowdown of China's economic growth and consumer confidence, the Chinese economy still shows strong toughness.

McKinsey's report also pointed out that although the media reports that some multinational companies are shrinking in China ’s business or withdrawn from the Chinese market, foreign direct investment (FDI) has been at a historical high.

Data from the Ministry of Commerce of China shows that China's FDI in 2021 set a record of US $ 181 billion (S $ 244.6 billion), a year -on -year increase of 21 %; the year -on -year increase of 24 % year -on -year in 2022.